The largest pension funds in Australia are actively investing in gambling, according to a study by SustainoMetric. Analysts noted that 20 funds hold gambling stocks worth at least 14.8 billion Australian dollars, or 10.33 billion U.S. dollars.
It is reported that this is approximately 1% of the total assets of the funds. However, the actual amount could be even higher since the study did not take into account bonds, external investments, and some other assets.
The largest amounts in gambling company stocks are held by:
- AustralianSuper — $3.42 billion (For convenience, amounts are shown in U.S. dollars. — Ed. note);
- Australian Retirement Trust — $1.24 billion;
- Colonial First State — $1.02 billion;
- UniSuper — $775 million;
- Aware Super — $656 million.
The names of the gambling companies in which Australian pension funds most frequently invest are not disclosed.